Zacks: Brokerages Anticipate FedEx Co. (NYSE:FDX) Will Post Quarterly Sales of $24.28 Billion

Brokerages expect that FedEx Co. (NYSE:FDX – Get Rating) will post $24.28 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for FedEx’s earnings. The highest sales estimate is $25.73 billion and the lowest is $23.33 billion. FedEx posted sales of $22.57 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that FedEx will report full-year sales of $93.40 billion for the current fiscal year, with estimates ranging from $92.45 billion to $94.85 billion. For the next year, analysts anticipate that the firm will report sales of $97.77 billion, with estimates ranging from $95.97 billion to $101.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover FedEx.

FedEx (NYSE:FDX – Get Rating) last issued its earnings results on Thursday, March 17th. The shipping service provider reported $4.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.64 by ($0.05). The business had revenue of $23.64 billion during the quarter, compared to analyst estimates of $23.33 billion. FedEx had a return on equity of 20.67% and a net margin of 5.60%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $3.47 EPS.

FDX has been the subject of a number of research reports. The Goldman Sachs Group set a $343.00 price objective on FedEx in a research report on Monday, January 24th. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a research report on Monday. Citigroup cut their target price on FedEx from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, March 18th. KeyCorp dropped their price objective on FedEx from $325.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, March 14th. Finally, Bank of America dropped their price objective on FedEx from $297.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $299.55.

In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the transaction, the director now owns 14,000 shares of the company’s stock, valued at approximately $2,889,880. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.16% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Dodge & Cox raised its position in shares of FedEx by 22.2% during the 4th quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock valued at $4,312,801,000 after acquiring an additional 3,031,046 shares during the last quarter. Geode Capital Management LLC raised its position in shares of FedEx by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 4,062,836 shares of the shipping service provider’s stock valued at $1,047,785,000 after acquiring an additional 153,131 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of FedEx by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,372,731 shares of the shipping service provider’s stock valued at $520,369,000 after acquiring an additional 35,351 shares during the last quarter. Norges Bank bought a new stake in shares of FedEx during the 4th quarter valued at $593,029,000. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of FedEx by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,261,999 shares of the shipping service provider’s stock valued at $496,034,000 after acquiring an additional 583,900 shares during the last quarter. Institutional investors own 79.92% of the company’s stock.

FDX opened at $197.01 on Tuesday. The stock has a market cap of $51.06 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.81 and a beta of 1.31. FedEx has a 1 year low of $192.82 and a 1 year high of $319.90. The company has a current ratio of 1.39, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $214.01 and a 200 day moving average price of $233.76.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Monday, March 7th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Friday, March 4th. FedEx’s dividend payout ratio is 15.75%.

About FedEx (Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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